Marc Faber Warns “There Is NO Safe Haven”
from Zero Hedge:
There is no safe haven, Marc Faber tells Bloomberg TV’s Tom Keene, “The best you can hope for is that you have a diversified portfolio of different assets and that they don’t all collapse at the same time.” Bank deposits are no longer safe; money and treasury bills are not 100% safe; and equities in the US are relatively expensive by any valuation metric. However, at around $1250, gold is a buy, Faber adds on the basis of the ongoing monetization of debt globally. The debt ceiling debacle will lead to the Fed stepping up to directly fund the government (something it already implicitly does but mainstream media prefer not to consider). Faber clarifies the idiocy of the discussions, “both parties want to spend, it’s just on different things,” with “the idiocies of government” having grown way too large, wasting money everywhere… the Democrats are “buying votes” and the Republicans funding the military complex. The debt-ceiling is merely a symptom of the problem, Faber concludes, that “government has grown disproportionately large and that retards economic growth.”
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Well there are two kinds of ‘safe havens’ one for your ass, the other your wealth,
Look at what Faber does, not what he say’s.
90% of Fabers wealth is in real-estate in his wifes name in chiang-mai thailand, as foriegners cannot put real-estate in their name,
His ass is in Thailand,
Faber has GOLD, but let’s be honest, he makes his money buy selling ‘newsletters’ for $1,000/year. To rich fools.
Well said, my friend. Way to pull back the curtain on the internet-age financial hucksters.
I am calling B.S…….
The market goes in one direction STRAIGHT UP….I have been reading for 10 years now how terrible the U.S. economy is and that it is going to collapse…Well at some point you have to start calling B.S….
However, I am sure if you yell fire long enough one will happen….
But for now…the Economy is great, people are fat and happy…the jobs numbers are rosy…and jobs are plentiful…..
Hamilton…
I AM CALLING B. S……
GO LONG YOU CAN NEVER BE WRONG……THE MARKET GOES STRAIGHT UP!!!
The economy is great…The market doesn’t care about the government shut down, the debt ceiling, the printing of money, unemployment, food stamps, NONE OF IT MATTERS….JUST GO LONG…and you will make BILLIONS…
I have heard all this fear crap for years now….and all it is…is fear porn….